MTN MoMo backs BoG’s new credit score system to promote responsible lending

MTN MobileMoney Limited has expressed support for the Bank of Ghana’s upcoming credit score system aimed at promoting transparency, responsible lending, and consumer protection in the digital finance space.

The new framework, expected to take effect on November 3, is part of the central bank’s measures to streamline digital lending and ensure borrowers are not overburdened with debt.

Speaking at the 2025 MoMo Fintech Stakeholder Forum in Accra on Wednesday, October 15, Chief Executive Officer of MobileMoney Limited, Shaibu Haruna, noted that the credit score policy is an important step to ensure responsible borrowing.

“We are very excited about it, and we'll work with all our partners to ensure that we carry this to the next level.

“I think the idea around the policy is to ensure transparency and responsible lending. It’s also geared towards making sure that we don’t overburden people from borrowing,” he explained.

He further highlighted that the Ghanaian financial market needs an expansion in credit access to drive economic growth, noting that credit is the backbone of progress in advanced economies.

“What this market needs is a growth in credit because credit tends to have a multiplier effect on the economy. Most advanced economies are where they are today because of the power of credit,” Mr. Haruna emphasized.

He added that MTN MoMo will continue to leverage technology to assess customer repayment behaviour, collaborate with the Bank of Ghana and other stakeholders to blacklist habitual loan defaulters.